Russia’s Basic Element refuses to sell 60% in insurer Ingosstrakh for USD 970mn. Russian holding Basic Element has refused to sell its 60% stake in local insurer Ingosstrakh to Italian insurer Generali and Czech private equity fund PPF Investments (PPFI) for USD 970mn (CZK 18.2bn), Russian daily Vedomosti informs. No information was disclosed how much Generali and PPFI were each willing to pay. Basic Element left the...
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